I use these labels for my recently launched small business, MaddieLovesLipBalm.com, which creates personalized lip balms for events (weddings, birthday parties, bar/bat mitzvahs, etc) and also for other small businesses for trade shows, open houses.
My main tip is this: take your time and get it right the first time. Re-doing any project costs money, and I'd rather spend more time than money to get it right the first time.